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Technology's Impact on Property Management

No matter what industry you are in, you are experiencing radical changes in the landscape due to disruptive technologies. With that being said, property management is a particularly interesting topic. Many management firms are overwhelmed with current day-to-day tasks and become blinded with a micro view when it comes to business development. As a result, on the macro level, they don't always realise they're using costly, outdated, inefficient processes and methods to complete work. Or even worse, they notice and do nothing about it. Generally, this industry has been slow to adopt change, however, the rate of change continues to grow. We will begin to see gaps form among management firms with regards to who is adopting these new technologies and who is not. With the amount of technological options in the market, the opportunity to automate tasks is substantial. If you wish to see some of these new systems in effect, look to the larger firms who are currently making big bets on these new advancements. It will only become increasingly harder for smaller firms to compete if they do not look to evolve from what was once a technologically limited industry.

Although there is substantial regulation within the industry, the rate of change will not slow down. Mayfield Management Group embodies this concept of change. We are currently exploring the different options of automating and systemizing our processes on a mass scale. We are excited for what the future has in store and cannot wait to share these improvements in our service with all our current and future customers. 

 

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